Bulgaria Industry July 2019

Bulgaria: Contraction in industrial production softens in July

September 10, 2019

Industrial output dropped 0.9% year-on-year in July, following a sharper 3.4% contraction in June, which had marked the lowest print in six years. Meanwhile, annual average growth in industrial output logged 1.1%, down from 1.3% a month prior.

July’s fall reflected contractions in the manufacturing, and electricity, gas, steam and air conditioning sub-sectors, only partially offset by higher production in the mining and quarrying industry. In the important manufacturing sub-sector, a particularly sharp decline was recorded in the production of fabricated metal products.

The economy grew 2.4% year-on-year in the first quarter, down from Q4 2019’s 3.1% outturn but beating market expectations that the economy would contract in Q1, according to a preliminary release by the Statistical Institute on 15 May.

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